The potassium metabisulfite market is anticipated to grow at a CAGR of 4.56% in the forecasted year 2016-2022. The demand for potassium metabisulfite is majorly driven by growth in the demand for wine and beer manufacturing industries. Also, the growth of the food preservatives industry is additionally driving the growth of potassium metabisulfite in countries with strict regulation on non-food chemicals used in food and beverages industry.
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The potassium metabisulfite market is valued at $355.5 million in 2015 is anticipated to go above $436.3 million in 2022. Potassium metabisulfite is extensively used for the production of wine and beer. The wine and beer industry are the key drivers for the demand for potassium metabisulfite. The market for wine and beer industry accounted together for approximately 65.5% of the total market in terms of volume in 2014.
The global potassium metabisulfite market is segmented on the basis of application and region. The applications of potassium metabisulfite are in wine industry, beer industry, food preservatives industry, textile industry, photographic chemicals, and others. The potassium metabisulfite market which is largely fragmented has large number of global and regional manufacturers. These manufacturers are focusing on catering their customers with advanced and useful products. The wine and beer industry is the largest consumer of potassium metabisulfite. The wine and beer industry is the dominated segment in all other applications. It is due to the huge demand of wine and beer on global scale.
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The wine industry is the fastest growing industry to increase the demand of potassium metabisulfite. The European region is the hub for the huge production of wine, beer and also the consumption rate of alcoholic beverages is high in the region. Another important factor that gives the extra drift to the demand for potassium metabisulfite is the food regulation imposed by the government and European Food Safety Authority. The food preservatives industry is also growing with a significant rate due to the regulations and the rising demand for frozen food in the region. Manufacturers are concentrated on catering their customers with advanced products. The consumption of potassium metabisulfite is the highest in the European region. The region accounts for over 50.2% of the total market in terms of volume. The growing demand for wine, beer and food preservatives in Europe is the major driver of potassium metabisulfite market in the region. The growth of potassium metabisulfite in Asia-Pacific region is the fastest as compared to other regions. The high growth in the Asia-Pacific region is because of the increasing youth population who prefer beer as compared to other alcoholic drinks.
The top companies in the potassium metabisulfite market are BASF SE (Germany), Aditya Birla Chemicals Thailand (India), Murphy and Son Ltd. (U.K), Jay Dinesh Chemicals (India) and Laffort (France) etc.
1. ADITYA BIRLA CHEMICALS
2. ADVANCE CHEMICAL SALE
3. ALKALOID AD
4. AVANTOR PERFORMANCE MATERIALS
5. BASF SE
6. FEEDWAY EUROPE NV
7. IMPERIAL OILFIELD CHEMICALS
8. JAY DINESH CHEMICALS
9. MURPHY & SON LTD
10. PAT IMPEX
11. RAM-NATH & CO.
12. SHAKTI CHEMICALS
13. SHALIBHADRA GROUP
14. SHANDONG MINDE CHEMICAL
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